As the uranium spot price rises for the fifth consecutive week, advanced nuclear technologies in the US are pointing the way to energy grids of the future
-Next generation small advanced reactor project
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-Uranium spot price rises by 1.9% for the week and 5% for 2021
TerraPower,
"The future of nuclear energy is here," US Energy Secretary
If it's as reliable as conventional nuclear power, the 345-megawatt plant would likely produce enough power for approximately 250,000 homes.
Small advanced reactors, which run on more highly enriched fuels to traditional reactors, are regarded by some as a critical carbon-free technology than can supplement intermittent power sources like wind and solar.
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Uranium pricing
The latest upward trend in the Daily Spot Price amounts to an 11% rise from
A total of eight transactions involving just over 800,000lbs U3O8 were reported for the week.
Heat on pricing for sellers in the mid-term market
Offer prices for uranium delivered in the mid-term period remain relatively flat when compared to the price increases noted in the spot uranium market, reports TradeTech.
Other buyers are not seeing the same level of pricing as utilities for mid-term delivery. The lack of term sales opportunities has given utilities an advantage, particularly if the quantity is small and the delivery period is limited. Sellers are not taking a great risk in committing significant quantities at today's prices though are seizing the opportunity to sell material to an end-user and taking it out of the potential sales cycle.
Access to exceptionally low interest rates by several non-primary sellers is one factor contributing to the flat price curve in the mid-term, explains
Sellers, facing the erosion of their forward delivery portfolio, must find ways to survive. This may be achieved either through cuts to expenses, creative approaches to raising financial capital, or accepting lower prices in order to provide revenue for ongoing operations until the market improves.
This has resulted in a trend where sellers have expressed a willingness to accept lower prices for long-term deliveries for the earlier portion of a commitment, but only in exchange for additional volumes over the life of the contract that are significant.
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